DJI - Shortfulfilled bearish setup -
triple top with decrease volume and weaker momentum.
Following the weekly pivot point,
first target - 22400
second target - 21500
third target - 20500
CFD
[XAUUSD] May 13, 2020 - ALuoTradingJournal***XAUUSD ***
Resistance Level Entry: 1717 (Depend on the Candlestick signal)
SL (final point for changing in direction) : 1750 (Depend on the Candlestick signal)
TP Resistance level (Ideal TP): in between 1626 ~ 1650
Comment:
Since after the big drop of 30% with oil, gold spread has not been normal for most platforms.
It will not be a considering instrument to currently trade. However, it is still good to keep an eye on the trend, to see how it will go in longrun.
(Note: The forecast above is an estimation of the resistance and support level for the Entry, TP, and SL. For more precise positions, will depend on the shape formed with the candlestick at the time.)
Roger V WeChat: lokiho512
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.
UKOIL is inside the Triangle!As you see there are a lot of different movements, but the most powerful are after the accumulation inside the Triangle.
Now I can suggest a good trade opportunity after the price will cross the border.
Potential profit will be 5 times bigger than the risk.
Push like if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Write your comments and questions here!
Thanks for your support!
XAUUSD AnalysisXAUUSD Analysis 5/10/20
XAUUSD is showing strong bullish momentum. As shown by the horizontal blue line, it has broke a peak on the volume profile in the price range where 70% of the volume has occurred. Furthermore, the MACD < 0 given us another confirmation that price will head down. My bias is short all the way here. Hope you all enjoyed the analysis and do not forget to hit the like button!
OIL PRICES: Recent EventsOIL PRICES: Recent Events
The price of oil decreased substantially in 2020 due to the COVID-19 pandemic and the 2020 Russia–Saudi Arabia oil price war. On 20 April, WTI Crude futures contracts dropped below $0 for the first time in history. Oil Prices collapse into negative prices on Monday was a clear warning of just how scarce storage space for oil is getting. The following day Brent Crude fell below $20 per barrel.
"It will take time and money to turn it back on. It's not like a light switch," David Trainer, CEO of New Constructs, an investment research firm based in Nashville.
The outbreak of Coronavirus impacted the oil price as many people are staying home. The social-distancing and stay-at-home orders are thought to partly be one of the major factors that crippled the oil price market in the first place. Return of the oil boom is speculated to be coming in the next few months as the world reopen after COVID-19 lockdowns. The demand of oil is thought by experts to return and in turn increase oil prices in the coming months.
"When demand comes back online, there won't be as many people there to make the oil," said Trainer.
Profiting from a oil price CFD increase:
Let’s say you buy an oil price contract at a current market price of US$11.55 per barrel, believing the market price will rise by a certain time. If the oil price has risen at the expiry of the contract, you’ll make a profit based on the difference between the buy and sell price. However, if oil price falls below the buy price at the point when the contract expires, you’ll lose the trade.
Heikinashi Fibonacci Resistance Level: $28.77
Heikinashi Fiboacci Support Level: $0.06
USOIL SHORT TRADEUSOIL rebounded from supply zone at level 27.50
Price retested broken minor uptrendline
MACD shows bearish momentum
RSI is in downtrend
It's expected to retest the major uptrendline
and key level at level 19.70
DAX EMAs Shows Bullish Stack; Line Up For Momentum PushThe above chart show's FXCM's DAX proxy - the GER30. We note that the orange 13-day EMA has crossed above the black 34-day EMA (green ellipse). This has put the EMAs into a bullish stack. I.e. the green 5-day EMA is above the orange 13-day EMA, and the orange 13-day EMA is above the black 34-day EMA. If the EMAs develop angle and separation to the upside, it will denote an unfolding positive momentum for the index.
UKOIL ShortIt has been third day hitting the 50SMA and bearish candles are good signals to be short. 27.08 is a strong monthly support.
USOIL LONG TRADESharp correction wave ended at level 9.90
then bullish movement occurred breaking major downtrendline
Price is based above SMA 100 on H1 frame
MACD shows bullish momentum
It's expected to first target the key level at 20.80
then going down to retest uptrendline
then finally target the resistance level near 27.35
USDNOK LongIt is forming unconfirmed 123 pattern. Needs to break confirmation resistance to reach the target price.
CHFNOK 123 Pattern LongIt is important how it will close today. It is unconfirmed 123 patter so far.
USDCAD Double Bottom LongIt found support at 50SMA. It is a unconfirmed double bottom. Look for the chart for the details
XAUUSD | Double Top Update Please support this idea with LIKE if you find it useful.
From previous idea we have a Double Top. Currently price is testing Support Node which contains Support Trendline + Ichi Cloud + 50 MA.
If we have a confirmed breakout of this Support Node we can initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
XAUUSD | Descending Channel Please support this idea with LIKE if you find it useful.
Price retraced of the Higher Boundary of a Descending Channel and crossed the Mid Line to downward. Currently the Mid Line serves as a resistance and if we have a confirmed rejection we can initiate a short position
Also if price cross the Mid Line to upward we can initiate a short position of the Higher Boundary of a Descending Channel, i case we have a confirmed rejection
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
XAUUSD | Double Top Please support this idea with LIKE if you find it useful.
Price formed a Double Top pattern. In case there is a confirmed breakout of the 50 MA we can initiate a short position.
Break back above the Horizontal Resistance should be considered as a bullish sign
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
